Cutwater Select Income Fund Declares Quarterly Dividend and Appoints a New Trustee

Business Wire

ARMONK, N.Y.--(BUSINESS WIRE)--

Dividend Declaration

The Cutwater Select Income Fund (CSI) (the “Fund”) declared a dividend of $0.265 on March 12, 2014, payable on May 1, 2014, to shareholders of record at the close of business on April 4, 2014, with an ex-dividend date of April 2, 2014.

The dividend of $0.265 per share would equate to an annual dividend payment for the last four quarters of $1.06 per share.

Appointment of New Trustee

The Fund also announced that the Board of Trustees of the Fund appointed Mr. Gautam Khanna to serve as a Trustee of the Fund effective immediately. Mr. Khanna is currently a Vice President and Portfolio Manager of the Fund. Mr. Khanna is considered an “interested person” of the Fund as such term is defined under Section 2(a)(19) of the Investment Company Act of 1940, as amended (“1940 Act”), by virtue of his employment with the Fund’s investment adviser, Cutwater Investor Services Corp. (the “Adviser” or “Cutwater”). Mr. Khanna is also a Managing Director and Senior Portfolio Manager at Cutwater and a member of Cutwater’s Investment Strategy Committee and Credit Committee. He joined Cutwater in 2003 and has worked in the financial services industry since 1999. He has a Bachelor of Science (BS) degree (Honors) from the Rochester Institute of Technology and a Master of Business Administration (MBA) degree with distinction from Cornell University. Mr. Khanna holds the designation of Chartered Financial Analyst (CFA) through the CFA Institute and is a Certified Public Accountant (CPA).

The Fund is a diversified closed-end management investment company whose investment objective is to seek a high rate of return, primarily from interest income and trading activity, from a portfolio principally consisting of debt securities. The Fund will also seek capital appreciation principally by purchasing debt securities at prices that the Adviser believes are below their intrinsic value. The Fund will also look to benefit from trading securities to optimize the risk adjusted yields in the Fund. Cutwater provides fixed income management to a variety of institutional clients including corporations, governmental entities, employee benefit plans and registered investment companies.

A portion of a Fund's current distribution may include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Fund. As required under the 1940 Act, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. Such notice will also be posted to the Fund’s website at www.cutwater.com. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes.

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.

An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing.

Contact:
For Cutwater Select Income Fund
Gautam Khanna, 866-333-6685

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